The shares of NB Plc were admitted to trading on the floor of The Nigerian Stock Exchange on 5th September, 1973. Currently, NB Plc is the second most capitalised company on The Nigerian Stock Exchange.
With about 112,367 shareholders as at 31st March, 2017, the authorised share capital of NB Plc is N4billion, divided into 8 billion shares of 50kobo each.
The issued share capital as at 31st March, 2017 stood at N3,964,550,444 divided into 7,929,100,888 ordinary shares of 50 kobo each. Heineken N.V has a majority shareholding of approximately 55% while 45% is held by Nigerian and foreign individuals and associations.
The Directors are pleased to recommend to Shareholders at the forthcoming Annual General Meeting, the declaration of a total dividend of N28,386,181,179 (twenty eight billion, three hundred and eighty six million, one hundred and eighty one thousand, one hundred and seventy nine naira only), that is, N3.58 (three naira, fifty eight kobo) per ordinary share of fifty kobo each. The Company had earlier paid an interim dividend of N7,929,100,888 (seven billion, nine hundred and twenty-nine million, one hundred thousand, eight hundred and eighty-eight naira only) that is, N1.00 (one naira only). Thus, the final dividend will be N20,457,080,291 (twenty billion, four hundred and fifty seven million, eighty thousand and two hundred and ninety one naira only) that is, N2.58 (two naira fifty eight kobo) per share. If the proposed final dividend is approved, it will be subject to deduction of withholding tax at the appropriate rate and the dividend will be payable on the 4th of May, 2017, to all Shareholders (“Qualifying Shareholders”) whose names appear on the Company’s Register of Members at the close of business on the 8th of March, 2017.
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Turnover grew by 18% due to the impact of price increases implemented in the previous year. Cost of Goods Sold increased by 25% as a result of higher input costs. Nevertheless, due to a continued focus on cost efficiencies, the Results from Operating Activities rose by 7% while Profit After Tax increased by 9% helped also by lower Net Finance Charges.
The 2017 operating environment however remains challenging. The Board is confident that the Company is in a good position to make the necessary adjustments to cope with the difficult operating environment. Thus, the Company will continue to pursue its twin-strategy of Cost Leadership and Market Leadership supported by innovation.